Bulgaria wants to nationalise the largest oil refinery in the Balkans

This was reported by Reuters and the Bulgarian media outlet Novini.

The Burgas refinery is the largest oil refinery in the Balkans, supplying approximately 80% of Bulgaria's fuel. The country fears that the new US sanctions will lead to a fuel shortage. Politico, citing sources, wrote on 1 November that Bulgaria is on the verge of a fuel and political crisis due to the new sanctions.

The government wanted to submit a request to exempt the country from the new US sanctions. However, after a meeting in parliament, it was decided that the only way out of the situation was for the state to purchase the refinery.

The new bill would allow the sale of the plant only with the consent of the Council of Ministers and after approval by the State Agency for National Security (DANS). Bulgarian President Rumen Radev vetoed the bill, but parliament overrode the veto. Radev explained that the document makes the Council of Ministers dependent on the opinion of DANS, which is constitutionally unacceptable.

At the same time, Lukoil said that its foreign assets are planned to be bought by the Swiss company Gunvor, but it is still unclear whether this applies to the Bulgarian plant.

Source: Babel, Reuters